BUTTER MARKET ACTIVE.

New Zealand Herald, Volume LXIX, Issue 21225, 4 July 1932, Page 5

BUTTER MARKET ACTIVE.

OPERATIONS OF MERCHANTS. AN UPWARD TENDENCY. After a fairly quiet period, merchants representing London houses are operating more freely in the butter and cheese markets and an improvement i:i business is reported at firm levels. Sales in butter have taken place at 10|rl to lOfd per lb. f.o.b. for prompt shipment, while cheese has been bought on the same basis at si,d to sfd. The price for batter i:s equivalent to about 107s per cwt. on the London market, while that for cheese i:> equal to approximately 59s to 60s per cwt., London.

Last week the market registered an improvement of about 2s per cwt. for both butter and cheese, and further reports from merchants confirm the upward tendency. The following cablegrams have been received by Auckland merchants from their London houses, dated July 1: The New Zealand Producers' Co-opera-tive Marketing Association, Limited:— Butter: New Zealand, 98s to 100s; unsalted, 100s to 102s; Danish, 102s to 104s. Cheese: "White, 58s to 595; coloured, 57a to 593. The markets are firm.

A. H. Turnbull and Company, Limited, from W. Weddel and Company, Limited. —Butter: Danish, 102s to 104s; New Zealand, finest salted, 98s to 100s; Australian, 96s to 98s. Cheese: New Zealand, white, 58s to 595; coloured, 57s to 595. The markets are firm.

Mr. H. S. Withers, from Mr. A. C. Rowson.—Butter: New Zealand, 98s to 995. Cheese': White, 60s; coloured, 595. Both are in good demand, with an upward! tendency. Mr. L. McCartney, from Henry A. Lane and Company, Limited, London.—Butter: New Zealand, 99s to 100s; Danish, 88s. Cheese: New Zealand, white, 60s; coloured, 595. The markets are firm at advance. THE LONDON MARKETS. FROZEN MEAT. (Received July 3, 5.5 p.m.) LONDON, July 2. The weekly quotations for the undermentioned classes of frozen meat are based on actual sales of wholesale quantities of carcases of mutton or lamb, or of quarters of beef delivered to Smithfield market and London stores. They are compiled by the Quotations Committee, Smithfield. To arrive at the equivalent ex ship values, one farthing per pound should be deducted from the prices quoted below. Quotations given represent the average for the 1 week and are not selected lines, but for parcels fairly representative of the bulk of shipments now on offer. New Zealand Frozen Sheep.—North Island crossbred wethers and maiden ewes, 481b to 551b, 3|d; 571b to 641b, 3d ; 651b to 721b, 2Jd; ewes, under 481b, 2fd; 481b to 641b. 2£d. Australian Sheep.—First quality crossbreds and Merino wethers, 401b. to 651b, 2fd; 301b to 551b, 2fd; ewes, 301b to 551b, 2^d. Argentine Sheep.—Fust quality crossbred wethers, 651b to 721b, 2£d. Patagonian Sheep.—Wethers and maiden ewes, 501b to 601b, 2|d. New Zealand Lambs.—Canterbury. 361b and under, sfd; 371b to 421b, sfd; 431b to 501b, s|d; other South Island brands, 361b and under, s|d; 371b 1o 421b, s|d; 431b to 501b, SJd: selected North Island brands, including Downs. 361b and under, 6d; 371b to 421b, s|d; 431b to 501b, s?d; other North Island brands, first quality, 361b and under Australian Lambs.—Other States, first quality. 361b and under, 4|d: 371b to 421b, 4|d; Victorian, second quality, 3611) and under, 4|d; other States, second quality, 361b and nnder, 4|d. Argentine Lambs. —Second quality,, average 30ib, 4^d. Uruguayan Lambs. —Third quality,, average 301b, 4|d. Australian Frozen Beef.—Ox crops,, under 1001b, 29d: over 1001b, 2|d; ox hinds, under 1601b, 3|d: over 1601b, 4d.

Argentine Chilled Beef. —Che fores, 1601b to 220 ib, 23d; ox hinds, 1501b to 2201b, 4*d. ' . New Zealand Pigs.—First quality. 601b to 1001b. average SOlb, 4J,d; 1011b to 1201b. 4|d. Australian Pigs.—First quality, 601b to ICOlb. average SOlb, 4^d. All other sorts are unchanged. COTTON", RUBBER, JUTE, ETC.

(Quotations on June 24 in parentheses.) Cotton.—Spot, 4.65 d (4.38dj a lb; August delivery, 4.36 d (4.09 d July). Rubber.—Para, (3id) a lb; plantation and smoked, 1 13-16 d (1 13-16 d). Jute.—July-August shipments, £l4 12s 6d (£ls June-July), a ton. Copra.—July-August shipments, South Sea, £l3 5s (£l3 2s 6dl a ton; plantation, Rabanl, £l3 7s 6d (£l3 ss). Linseed Oil.—£l4 (£l4) a ton. Turpintine.—sßs 9d (53s 6d) a cwt.

The Bank of New Zealand has received the following report from its London office at the close of business last week:— Wethers.—There is a littlis better demand for first light-weights. Ewes: The market is depressed owing to absence of demand. Lambs; The market is oversupplied and is unsteady. No material change is expected in the near future. Wethers, light. 3d to 4|d per 'lb.: wethers, heavy, 2|d to 3d; ewes, 2d to 2|d: lambs,' twos," 54d to 6d; eights, si,d to Sid; fours, to sfd ; seconds, 5d to fi^d.